Leeds United teamed up with Walker Morris to complete 50% stake sale

On Wednesday (January 4th 2017) it was confirmed that Massimo Cellino sold a 50% stake in Leeds United to fellow Italian businessman Andrea Radrizzani.

To complete the transaction, specialist sports lawyers at Leeds-based Walker Morris advised Eleonora Sport Limited on the sale of the shares in to Greenfield Investment Pte Ltd, which is owned by Mr Radrizzani.

Following the acquisition, Greenfield Investment Pte Ltd is now co-owner of the Championship club with Eleonora Sport Limited, which is run by the Cellino family.

In the last 18 months, Walker Morris’ sports team has advised on three Premier League and seven Championship club acquisitions/sales including Crystal Palace FC, Leeds United FC, Reading FC, Bolton Wanderers FC and Sale Sharks Rugby Club.

David Hinchliffe, head of sport at Walker Morris, led a multi-disciplinary team of sports law specialists.

Commenting on the deal, Mr Hinchliffe said: “This acquisition is great news for everyone involved with Leeds United including the club, the players and the fans. The club has a strong heritage and a clear aim to return to the Premier League.

“Mr Radrizzani has, alongside Massimo Cellino, offered his full support to manager Garry Monk and both owners are committed to making Leeds United as successful as possible.

“The Walker Morris Sports Group is delighted to start 2017 with the same run of success it had in 2016 and continues to build on its national reputation for managing complex football club acquisitions through to a successful conclusion.

“We are very proud to have been involved in this particular deal, which will provide a platform for Leeds United to regain its place as a football giant.”

Mr Cellino added: “The Walker Morris team has worked really well with the Club for the past few years, so we were delighted to have their support again.

“This was a complex transaction and Walker Morris delivered commercial, pragmatic advice throughout. Their strategic and innovative thinking ensured the transaction was completed.”

The Walker Morris Team was led by David Hinchliffe and comprised Katie Reed and Christian Slinger and was supported by Owen Ormond (Finance), Nicola Parkinson (Tax), Jeremy Moore, Andrew Maclean (Real Estate), John Hamer (Corporate) and Zenia McDermott (Regulatory).

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